NES DELIVERS UP-TO-DATE ECONOMICS RESEARCH AND EDUCATION, MAKING A VALUABLE CONTRIBUTION TO THE RUSSIAN SOCIETY, STATE AND BUSINESS 2021 New Economic School NES MISSION «NES does not rest NES delivers up-to-date Economics research and education, making on its laurels». a valuable contribution to the Russian society, state and business. NES nurtures a community of world-class economists in Russia by: • educating the best professionals in Economics in line with international standards • inviting academic talent from all over the world, including bringing Russian economists back home RUBEN ENIKOLOPOV Rector of the New Economic School • creating and supporting international research groups Full Professor • conducting internationally competitive research NES alumnus, MAE’2002 • boosting quality and prestige of Economics degrees The New Economic School has been a lead- • shaping new approaches to economic challenges er in economic education and research in Russia for many years. NES professors hold • helping the state institutions and businesses make managerial PhD degrees in economics and finance from decisions and shape their economic policies the world’s leading universities and publish their research in the world’s best academic • contribute to the Russian economy by delivering quality education journals. NES graduates are highly valued in in Economics and Finance as well as by carrying out applied and various fields: business, the public sector and academic research projects academia. NES does not rest on its laurels. The develop- ment strategy adopted this year defines our priorities for the next five years: strengthen- ing the School’s unique community, moving NES VALUES to our own campus, transition to a full cycle university by launching a PhD program, fur- ther development of the undergraduate and Professionalism master’s degree programs, and ensuring the financial independence and sustainability of Responsibility the School. I am confident that the fulfillment of these Mutual respect ambitious goals will strengthen the leading positions of NES in the development of Rus- Integrity sian economic science and education. www.nes.ru New Economic School RANKINGS 1st place among Russian universities by the number of publications in leading international journals of economics and finance, according to the Tilburg University Ranking 1st place among Russian universities by the number of citations per one scientific publication, according to QS Rankings 2nd place place in Russia according to the Shanghai Academic Ranking of World Universities (ARWU), in Economics 1st place in the «Rating of Demand for Universities in the Russian Federation» among universities in the field of management, represented by the “Russia Today” project, “Social Navigator” 1st place in the Changellenge rating for student satisfaction with the quality of education 4 5 www.nes.ru New Economic School CONFERENCES MARTA NES professors take part in major TROYA-MARTINEZ international research conferences: Assistant Professor of Economics • Annual meeting of American Economic Association (AEA) and American Finance Association (AFA) within the Annual Inter- national Conference of the Allied Social Science Associations (ASSA) Congresses of the European Economic Association (EEA) and the European Financial Association (EFA) National Bureau of Economic Research (NBER) meetings “International conferenc- Center for Economic Policy Research (CEPR) meetings es are an essential part of Conferences of the Society for Financial Studies (SFS) academic life. They provide a great opportunity to get feed- Conferences of the Western Financial Association (WFA) back on our own research, Conferences of the Financial Intermediation Research Society but also to learn about the (FIRS) latest research developments and to stay connected with the international scientific community.” NES is the first Russian university to hire professors internationally. Over 200 people a year apply for positions at NES. Candidates are interviewed at the annual meeting of AEA and AFA within the Annual International Conference of ASSA. The best candidates are invited to present their research at the Job Market Seminars at NES. More than 90% of NES professors hold a PhD degree from the world’s leading universities such as Harvard, Oxford, Columbia Uni- versity, Massachusetts Institute of Technology, London Business School, University of California, Berkeley. 6 7 www.nes.ru New Economic School PUBLICATION SELECTED PUBLICATIONS ECONOMETRICA MARKETING SCIENCE NES professors have their papers published in the world’s Ruben Enikolopov, Maria Petrova Daria Dzyabura 2020 coauthor: Alexey Makaryn 2020 coauthors: Liu Liu, Natalia Mizik best academic journals: “Social Media and Protest Participation: “Visual Listening In: Extracting Brand Image Evidence from Russia“ Portrayed on Social Media“ TOP 8 JOURNALS IN ECONOMICS AND FINANCE: There are two social media mechanisms The new “visual listening in” method in social inducing protest activity while the number of media changes the approach of measuring social media users influence the origin and user content and opens new opportunities the scale of protests. for marketing managers. THE JOURNAL OF FINANCE THE AMERICAN ECONOMIC REVIEW Hosny Zoabi Andrei Markevich 2019 coauthors: Moshe Hazan, David Weiss 2018 coauthor: Ekaterina Zhuravskaya “Women’s Liberation as a Financial “The Economic Effects of the Abolition of Innovation” Serfdom: Evidence from the Russian Empire” Granting women property rights in the US in The abolition of serfdom in the Russian the 19th century greatly broadened financial Empire in 1861 led to significant growth in market value and accelerated industrialization agricultural productivity, industrial develop- and economic growth. ment and peasant’s living standards. HOSNY ZOABI MARIA PETROVA SAFMAR Associate Professor Banking Group «Alfa-Bank» Associate with tenure professor of Economics 8 9 www.nes.ru New Economic School THE REVIEW OF ECONOMIC THE REVIEW OF ECONOMIC THE AMERICAN ECONOMIC THE AMERICAN ECONOMIC STUDIES STUDIES REVIEW REVIEW 2011 2012 2016 2018 Anna Obizhaeva Ruben Enikolopov, coauthors: Andrew Beath, Olga Kuzmina, coauthors: Maria Guadalupe, Ruben Enikolopov and Maria Petrova coautors: Albert Kyle, Yajun Wang Fotini Christia, Georgy Egorov Catherine Thomas coauthor: Ekaterina Zhuravskaya “Smooth Trading with Overconfidence and “Electoral Rules and Political Selection: “Innovation and Foreign Ownership” “Media and Political Persuasion: Market Power” Theory and Evidence from a Field Evidence from Russia” Experiment in Afghanistan” Multinational firms acquire the most produc- tive domestic firms, which, on acquisition, The electoral outcomes of the 1999 parlia- Traders use modern trading platforms to split Electoral rules, such as district magnitude, conduct more product and process inno- mentary elections in Russia show that mass their orders into multiple trades in order to mediate this trade-off and affect the com- vation leading to higher productivity and media, which is independent from the gov- minimize transaction costs, which signifi- position of representative bodies and policy market share. ernment, can significantly influence election cantly affects the properties of liquidity. outcomes as well as the quality of their pol- results by decreasing support for the ruling icy which is proved by a unique field experi- party and increasing the percentage of votes ment from Afghanistan. for opposition parties. ECONOMETRICA THE QUARTERLY JOURNAL Anna Obizhaeva OF ECONOMICS MIKHAIL DRUGOV 2015 2016 coauthor: Albert Kyle Ruben Enikolopov and Maria Petrova, “Market Microstructure Invariance: coauthors: Maja Adena, Veronica Santarosa, SAFMAR Associate Professor with Empirical Hypotheses” Ekaterina Zhuravskaya tenure, Deputy Vice-Rector for “Radio and the Rise of the Nazis in Prewar Academic Affairs Germany” “Publications by NES professors in the world’s leading journals in economics and finance are the best evidence of the School’s high research level. For students, this means that their professors are Market microstructure invariance is defined as the hypotheses that the distributions of on the cutting edge of modern risk transfers (“bets”) and transaction costs research.” are constant across assets when measured The rise of the Third Reich in Germany in the per unit of business time. The constants 1930s was the most prominent example of calibrated from structural estimation imply a collapse of democracy without a military specific predictions for the arrival rate of bets coup, and radio broadcasting played a signif- (“market velocity”), the distribution of bet icant role in it. sizes, and transaction costs. 10 11 www.nes.ru New Economic School RESEARCH NES is a research university with access to global expertise in economics. NATALYA VOLCHKOVA NES professors are engaged in research both independently as well as within Senior Lecturer, Director of the Center scientific labs and research centers, such as: for Economic and Financial Research (CEFIR) at NES CENTER FOR ECONOMIC “CEFIR at NES has by now AND FINANCIAL RESEARCH CSDSI NES completed over 250 projects. (CEFIR) AT NES The world economic community highly appreciates the quality CEFIR at NES is an important tool for fulfilling Focuses on research into the theoretical and the mission of the New Economic School in empirical aspects of social interaction in a het- of the Center’s research which is promoting the economic and social develop- erogeneous society (such as in Russia) with